Tiger Global and Accel lead facility management startup Facilio’s $6.4M Series A

Facilio, an IoT startup that focuses on facility management software, announced today that it has raised a $6.4 million Series A led by Tiger Global and returning investor Accel. The funding will be used to expand further in India, where Facilio has an office in Chennai, the United States and the Middle East, as well as enter new markets. Facilio is also one of the first new Indian companies Tiger Global has added to its portfolio since hitting pause on new investments there in 2015.

Founded in 2017 by Prabhu Ramachandran, Rajavel Subramanian, Yogendra Babu and Krishnamoorthi Rangasamy, Facilio’s software helps commercial real estate property owners keep on top of regular maintenance, make sure things like air conditioning systems and elevators are functioning properly and lower their energy consumption.

In a press statement, Fixel said, “On a global basis, facilities management services and energy spend by buildings each account for more than a trillion dollars. I am optimistic that Facilio can be a true disruptor in this industry.”